Rishi Ramchandani – a former executive at the bankrupt crypto platform BlockFi – became the APAC Web3 Lead of Google.
The world’s largest search engine argued earlier this year that Web3 is a market that demonstrates “tremendous potential” and established a dedicated team.
Finding Shelter in Google
In a recent post on LinkedIn, Ramchandani said he feels “excited” to step into his new role in the multinational technology company. His main goal will be to advance Google’s Web3 endeavors in the Asia-Pacific region.
The area is familiar to him since he served as BlockFi’s Vice President for Asia between June 2020 and December 2022. However, the ongoing crypto winter has severely shaken his previous employer, which filed for bankruptcy protection at the end of November.
Mitesh Agarwal – Managing Director Google Cloud Customer, Partner Engineering & Web3 GTM – welcomed the new leader of Google’s APAC Web3 unit, saying:
“Super thrilled to welcome Rishi Ramchandani to lead Google Cloud’s APAC efforts in Web3.”
Google Cloud has previously displayed intentions to dive deep into the Web3 ecosystem by allowing developers to build and use applications based on blockchain technology.
It also formed a new team to assist and simplify developers’ efforts when exploring the field. Amit Zavery – Vice President at Google Cloud – shed more light on the move:
“We’re not trying to be part of that cryptocurrency wave directly. We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises.”
A Light in the Tunnel for BlockFi’s Customers
One of the worst-affected companies from the prolonged bear market – BlockFi – dismissed a fifth of its total workforce in June.
It received a revolving credit worth $250 million from FTX, but the demise of the exchange crippled its operations. BlockFi suspended withdrawals in the middle of November, a few weeks before filing for bankruptcy protection.
The crypto lender recently sought permission from the US Bankruptcy Court to allow users to withdraw their holdings from the BlockFi Wallets. The firm described the initiative as an “important step toward our goal of returning assets to clients” and added:
“It is our belief that clients unambiguously own the digital assets in their BlockFi Wallet Accounts. As such, we filed a motion requesting authority from the US Bankruptcy Court to allow clients to withdraw their digital assets that are held in their BlockFi Wallet Accounts.
We will be seeking similar relief from the Supreme Court of Bermuda with respect to BlockFi Wallet Accounts held at BlockFi International Ltd.”